UBS Group AG decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100,148 shares of the financial services provider’s stock after selling 508,524 shares during the period. UBS Group AG owned about 0.15% of Fifth Third Bancorp worth $27,944,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in Fifth Third Bancorp by 0.3% in the first quarter. Diversified Trust Co now owns 10,157 shares of the financial services provider’s stock worth $258,000 after buying an additional 32 shares in the last quarter. Assetmark Inc. increased its stake in Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares in the last quarter. Savant Capital LLC increased its stake in Fifth Third Bancorp by 0.5% in the first quarter. Savant Capital LLC now owns 17,722 shares of the financial services provider’s stock worth $450,000 after buying an additional 87 shares in the last quarter. Bollard Group LLC increased its stake in Fifth Third Bancorp by 0.5% in the first quarter. Bollard Group LLC now owns 17,804 shares of the financial services provider’s stock worth $452,000 after buying an additional 90 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Fifth Third Bancorp by 1.7% in the fourth quarter. Ancora Advisors LLC now owns 13,588 shares of the financial services provider’s stock worth $367,000 after buying an additional 225 shares in the last quarter. 81.20% of the stock is currently owned by institutional investors.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 1.15% during trading on Friday, hitting $24.85. The stock had a trading volume of 1,675,456 shares. Fifth Third Bancorp has a one year low of $16.14 and a one year high of $28.97. The firm has a market cap of $18.64 billion, a P/E ratio of 13.00 and a beta of 1.35. The firm’s 50-day moving average is $24.57 and its 200-day moving average is $25.89.
Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, April 25th. The financial services provider reported $0.38 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.38. Fifth Third Bancorp had a return on equity of 10.12% and a net margin of 22.64%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post $1.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 2.23%. Fifth Third Bancorp’s payout ratio is currently 29.17%.
Several research firms recently issued reports on FITB. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.50 price objective on shares of Fifth Third Bancorp in a report on Friday, May 26th. TheStreet downgraded Fifth Third Bancorp from a “b” rating to a “c+” rating in a report on Friday, May 26th. BMO Capital Markets reiterated a “hold” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, April 25th. Robert W. Baird upgraded Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price objective on the stock in a report on Monday, June 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a report on Thursday, May 18th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.30.
In other news, CAO Teresa J. Tanner sold 26,010 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $24.90, for a total transaction of $647,649.00. Following the completion of the transaction, the chief accounting officer now directly owns 41,286 shares in the company, valued at $1,028,021.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Frank R. Forrest sold 13,321 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $24.63, for a total value of $328,096.23. Following the transaction, the executive vice president now owns 71,793 shares of the company’s stock, valued at $1,768,261.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,315 shares of company stock valued at $2,716,947. 0.38% of the stock is currently owned by insiders.
Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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